On the franchised dealer side of its business, OPENLANE provides private-label programs for automakers, who can sell wholesale vehicles directly to their dealer bodies. “And what that means is the majority of franchise dealers out there are customers of ours through those private-label programs, and that creates a sort of an entry point and a […] [Read More]

America’s Group has added two auction operations and extended its footprint to another state. The auction company said Monday it has acquired Jefferson Mid-State Auto Auction in Wisconsin and United Mobile Auctions in North Carolina. The latter is America’s first purchase in the Tar Heel State. Jefferson Mid-State has been renamed America’s Auto Auction South […] [Read More]

Amid “challenging market conditions” during its third quarter, ACV Auctions increased its revenue, gained market share and expanded its dealer network, said the company’s CEO George Chamoun. ACV’s revenue in the third quarter grew 16% to $199.5 million when compared to the year-ago quarter, but the company’s net loss of $24.4 million in the quarter […] [Read More]

One of the highest points in OPENLANE's overall rosy third-quarter performance was a 14% year-over-year increase in marketplace dealer sales volume. This represents the fourth consecutive quarter of double-digit-percentage volume increases in dealer-to-dealer sales for the company. This offset an expected Q3 downturn in commercial volumes. OPENLANE said during its recent earnings call that the […] [Read More]

While announcing that Cars.com’s Accu-Trade used-car appraisal tool surpassed 1 million quarterly appraisals, CEO Alex Vetter said Accu-Trade and the Cars.com digital wholesale auction platform, DealerClub, are increasing in number of users. That is happening as dealers move to “tech-first products that advance the industry’s long-term goal of improving profitability,” Vetter said in the company’s […] [Read More]

Black Book didn’t need an entire word to describe the most significant element impacting the wholesale market last week. Analysts did it with a single letter: K. The newest Market Insights highlighted that wholesale prices dropped 1.21% last week, prompting Black Book to say accelerated depreciation is “signaling a market under mounting pressure as the […] [Read More]

Wholesale vehicle sales lost a touch of momentum in October as the growth rate slowed. But sales are still entering the final turn of 2025 on a high note. According to AuctionNet data from the National Auto Auction Association, there have been 6 million vehicles sold at auction through 10 months, which beats year-ago figures […] [Read More]

Next up on our podcast series with 2025 Used Car Week Hall of Fame inductees is a conversation with Jerry Kroshus, who is CEO of Location Services. Cherokee Media Group president Bill Zadeits talks with Kroshus about his career journey in the auto finance, collections/recoveries and remarketing industries. Plus, they chat about Kroshus’ time playing […] [Read More]